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It is widely assumed that a common currency makes it desirable to have also a common fiscal policy. However, if fiscal policy is a source of shocks, independent national fiscal policies are generally preferable because they allow for risk diversification. -- Currency union ; fiscal policy...
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Two of the four macroeconomic adjustment programmes, Portugal and Ireland’s, can be considered a success in the sense … Anpassungsprogramme, dasjenige für Portugal und das für Irland, können in dem Sinne als erfolgreich angesehen werden, dass die … eindrucksvoller Senkung der Lohnkosten. Anders als Irland und Portugal hat Griechenland nach wie vor Probleme, die Ziele seines …
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The implementation record of the Country Specific Recommendations (CSRs) has declined over time, as financial turbulence lessened and the economic outlook started to improve. Urgency for reforms seemingly receded to leave room to request member states to move towards more accommodative stances....
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